Teck and Ridley Terminals expand commercial agreement

Teck Resources Limited and Ridley Terminals Inc. have announced an expanded commercial agreement for exporting steelmaking coal from Teck’s operations in BC. The deal, announced by Teck on Wednesday, will run from January, 2021, to December, 2027, and will increase its coal shipments through Ridley from a capacity of three million tonnes a year to six million tonnes, with an option to extend up to 8 million tonnes. The deal with Ridley follows a new ownership structure for the terminal after the federal government last year sold a 90-per-cent stake to a company owned largely by Riverstone Holdings LLC and AMCI Group and a recent five-year contract awarded to CN Rail to haul Teck’s BC-mined coal to West Coast ports. Together these agreements will enable Teck to increase its shipment volumes through the Ridley terminal to provide greater flexibility and improved performance within its overall steelmaking coal supply chain.